Mumbai, October 28, 2024: ACME Solar Holdings Limited, one of India’s leading renewable energy companies, has announced the launch of its Initial Public Offering (IPO), scheduled for November 2024. The IPO aims to raise approximately ₹3,000 crores, with a combination of a fresh issue and an Offer for Sale (OFS).
IPO Details
Issue Size: Approx ₹3,000 crores
Fresh Issue: ₹2,000 crores
Offer for Sale (OFS): ₹1,000 crores
Face Value: ₹2 per share
Retail Portion: 10%
Registrar: Kfintech
The proceeds from the fresh issue will be utilized for business expansion, debt repayment, and funding future solar projects. The OFS allows existing shareholders to offload part of their holdings.
Financial Overview (FY24)
Revenue: ₹1,319 crores
Profit After Tax (PAT): ₹698 crores
Earnings Per Share (EPS): ₹12.5
Net Asset Value (NAV): ₹49.6
ACME Solar’s robust financial performance highlights its growing presence in the renewable energy sector. The company’s focus on sustainable energy solutions and cost-efficient solar power generation has driven consistent growth over the years.
IPO Significance
The IPO comes at a time when the Indian government and industries are increasingly pushing for green energy adoption. With this public offering, ACME Solar aims to strengthen its balance sheet, expand operations, and tap into the rising demand for clean energy solutions in India.
About ACME Solar Holdings Limited
ACME Solar is known for its large-scale solar power plants across India, with a growing portfolio of utility-scale projects. The company’s commitment to sustainable practices positions it as a key player in India’s renewable energy transition.
Investors and market participants are keeping a close watch on this IPO, as it aligns with the increasing interest in ESG-focused investments. The registrar for the IPO is Kfintech, ensuring smooth management of the application process.